Summit Global Investments Purchases 927 Shares of NICE Ltd. (NASDAQ:NICE)

Summit Global Investments boosted its position in shares of NICE Ltd. (NASDAQ:NICE) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,650 shares of the technology company’s stock after buying an additional 927 shares during the period. Summit Global Investments’ holdings in NICE were worth $4,319,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NICE. Natixis Advisors L.P. acquired a new stake in shares of NICE during the 4th quarter worth approximately $2,345,000. First Trust Direct Indexing L.P. lifted its stake in NICE by 17.9% during the fourth quarter. First Trust Direct Indexing L.P. now owns 3,991 shares of the technology company’s stock worth $796,000 after purchasing an additional 607 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of NICE by 2.9% in the 4th quarter. Y.D. More Investments Ltd now owns 24,756 shares of the technology company’s stock valued at $4,939,000 after purchasing an additional 709 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of NICE by 11.7% in the 4th quarter. Russell Investments Group Ltd. now owns 14,187 shares of the technology company’s stock valued at $2,830,000 after purchasing an additional 1,489 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of NICE in the 4th quarter valued at $91,000. 63.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NICE shares. Wedbush raised their price objective on NICE from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Barclays raised their target price on shares of NICE from $283.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Mizuho upped their price target on shares of NICE from $244.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Citigroup increased their price target on NICE from $283.00 to $334.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Northland Securities began coverage on NICE in a research report on Tuesday, January 30th. They set an “outperform” rating and a $300.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $291.00.

NICE Trading Down 0.5 %

NASDAQ:NICE traded down $1.02 on Thursday, reaching $219.92. 640,306 shares of the stock traded hands, compared to its average volume of 352,816. The company’s 50 day moving average is $241.39 and its 200-day moving average is $211.23. The company has a current ratio of 2.06, a quick ratio of 2.06 and a debt-to-equity ratio of 0.14. NICE Ltd. has a 1-year low of $149.54 and a 1-year high of $270.73. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 43.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.04.

NICE (NASDAQ:NICE) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.10. NICE had a net margin of 14.23% and a return on equity of 13.29%. The business had revenue of $623.20 million for the quarter, compared to analysts’ expectations of $616.83 million. During the same quarter in the prior year, the firm posted $1.40 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that NICE Ltd. will post 8.21 EPS for the current fiscal year.

About NICE

NICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform; Enlighten, an AI engine for the customer engagement market; and smart self service enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connects them using real time AI-based routing.